Delta Air Lines recorded US$20.2 billion in GAAP operating revenue during the quarter ended 30 September 2026, up 21% year on year. The Atlanta-based carrier posted US$1.5 billion in operating income and a 7.2% operating margin, as strong travel demand supported revenue growth despite capacity expansion of less than 2% and a reduction in Main Cabin seats.
Adjusted operating revenue reached a record US$17.6 billion, an increase of 16% from the same quarter a year earlier. The adjusted figure excludes items including third-party refinery sales and should not be used interchangeably with the US$20.2 billion GAAP total.
GAAP net income was US$756 million, with diluted earnings per share of US$1.15. Adjusted diluted earnings per share reached US$1.72.
Higher fuel prices weighed on profitability. Fuel expense increased by approximately US$1.6 billion year on year to about US$4.1 billion on an adjusted basis, while total operating expenses rose to US$18.7 billion. Delta’s results reflected its strategy of keeping capacity growth constrained while demand remained strong across its network.